COMMERCIAL LOAN INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2017

COMMERCIAL LOAN INVESTMENTS

Schedule of loans classified as held for sale

	Date of	Maturity	Original Face		Current Face		Lower of Cost
Description	Investment	Date	Amount		Amount		or Market		Coupon Rate
Mezz – Hotel – Atlanta, GA	January 2014	February 2019	$	5,000,000	$	5,000,000	$	5,000,000	12.00%
Mezz – Hotel, Dallas, TX	September 2014	September 2018		10,000,000		10,000,000		10,000,000	30 day LIBOR plus 7.50%
Total			$	15,000,000	$	15,000,000	$	15,000,000

Schedule of components of commercial loan investment portfolio

The portion of the Company’s commercial loan investment portfolio held for investment was comprised of the following at September 30, 2017:

	Date of	Maturity	Original Face		Current Face		Carrying
Description	Investment	Date	Amount		Amount		Value		Coupon Rate
B-Note – Retail Shopping Center, Sarasota, FL	May 2014	June 2018	$	8,960,467	$	8,960,467	$	8,960,467	30 ‑day LIBOR plus 7.50%
First Mortgage - Land Parcel, Daytona Beach, FL	July 2017	August 2018		3,000,000		3,000,000		2,950,144	11.00%
Total			$	11,960,467	$	11,960,467	$	11,910,611

The carrying value of the commercial loan investment portfolio at September 30, 2017 consisted of the following:

	Total
Current Face Amount	$	11,960,467
Unamortized Fees		—
Unaccreted Origination Fees		(49,856)
Total Commercial Loan Investments	$	11,910,611

The Company’s commercial loan investment portfolio was comprised of the following at December 31, 2016:

	Date of	Maturity	Original Face		Current Face		Carrying
Description	Investment	Date	Amount		Amount		Value		Coupon Rate
Mezz – Hotel – Atlanta, GA	January 2014	February 2019	$	5,000,000	$	5,000,000	$	5,000,000	12.00%
B-Note – Retail Shopping Center, Sarasota, FL	May 2014	June 2017		8,960,467		8,960,467		8,960,467	30 day LIBOR plus 7.50%
Mezz – Hotel, Dallas, TX	September 2014	September 2017		10,000,000		10,000,000		10,000,000	30 day LIBOR plus 7.25%
Total			$	23,960,467	$	23,960,467	$	23,960,467